Managing general underwriter (MGU) Victor Insurance Holdings has gained Lloyd’s approval to launch Victor Syndicate 2288 and commence underwriting effective 1 January 2020 with an initial stamp capacity of £57mn ($75mn) supporting a business plan of £100mn.
The Active Underwriter for Victor Syndicate 2288 will be Jill Frances, who will also assume the role of chief underwriting and operations officer for Victor International. She will report to Anthony Stevens, president of Victor International and relocate to London.
Frances was formerly managing director of Victor US and brings experience in specialty underwriting, recently running its professional liability division.
The syndicate will support Victor’s underwriting of property and casualty (P&C) business in the US, UK, Italy, and the Netherlands.
“We have extensive history with Lloyd’s as a coverholder and are delighted to broaden our strategic relationship with such a vital market. Lloyd’s digital-forward approach aligns well with Victor’s digital innovation and our international expansion plans,” said Anthony Stevens, president of Victor International.
Brian Hanuschak, president, Victor North America, added: “The Victor syndicate will enable us to respond to the needs of underserved clients in catastrophe-exposed areas of the US through our subsidiary, ICAT. “Under the Lloyd’s banner, we are well positioned to serve the needs of our policyholders and our network of independent agents and brokers.”
Julian Tighe, CEO of Asta, said: “This is our second launch at Lloyd’s this year, and we look forward to working with Jill and her team as they re-position their business for future growth under the Lloyd’s franchise.”